HOW TO FIND FORECLOSURE PROPERTIES
Foreclosures are in high abundance today and investing in foreclosures can make you a lot of money.
Learning how to find foreclosures is one of the first steps. There are many ways to find foreclosures including looking in the classifieds, legal newspapers, talking to real estate attorneys, For sale by Owner, realtors-Short sales, auction companies, IRS auctions, bankruptcies, probate court, and county courthouse/Register of deeds.
In this article, we are going to cover just a few. To get more information on finding, purchasing, and making HUGE profits, go to WWW.makeaforeclosureinvestment.com
Classifieds. Some foreclosures can be found in the local paper, but most are found in legal newspapers. These newspapers can be found a few ways. They are used by professionals, especially by real estate attorneys. To get the name of your local legal newspaper, you can call a real estate attorney’s office and ask them if they take the legal newspaper and if they would give you the name. Some local title companies also use this legal newspaper and sometimes will share the information with their clients or potential clients. If all else fails, try your local library. They do charge a fee for this newspaper, but it is definitely worth the investment.
Understanding how foreclosure sales work is a must for serious real estate investors. You must learn: How records are kept, how records are protected, what laws affect us as investors, how to determine ownership, who owns the property, who financed it, and are there any liens or judgements against the property?
In order to succeed in foreclosure investing, you need to do your research. You can find out the answer to these questions through due-diligence, do your homework.
There are two offices where you can find this information; County Assessor’s office and County Recorder’s office.
In order to find a foreclosure you need to know: the name of the owner, address, or legal description (parcel number). To find the owner of a vacant property, you can ask the neighbors around the property or using the address, you can do a name search.
Using the last name, go to the County Assessor’s office and ask the clerk where they are sending the tax notice and that will give you potential contact information. You can also try the County Recorder’s office and ask them, what documents the owner might have signed in the last few years. Finally, you can try the County Courthouse to check for marriage license information, voter’s registration on file, pending lawsuits, garnished wages, divorces, state probate and landlord evictions. Use this information to get in contact with the owner to start the process. You can also use the last name to get all of the information you need in order to decide if this is really a property you want to invest in. These round out some methods of finding properties.
For more information on how to actually invest in these properties and more detailed information to making lots of money.
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